(ANSA) – MILAN, AUGUST 05 – European stock exchanges remain weak while Wall Street is expected to be negative with the data on the labor market under the lens. Uncertainties on the economic trend weigh on the lists with fears of recession while the ECB, to curb inflation, is ready for a new squeeze.
The area index of the Old Continent, the stoxx 600, drops by more than half a point. Energy-related stocks are still under sale.
Oil was up for most of the morning, turning down with the WTI losing 0.33% above 88 dollars a barrel. Brent went below 94 dollars a barrel (-0.3%). Gas drops to € 196 per megawatt hour (-1.7%).
Among the individual squares, Frankfurt loses a marginal 0.1% despite German production in June going better than estimates. London shows a drop of 0.19% and Paris of 0.56%. Milan is stable and declines by 0.21% with the Ftse Mib at 22,598. points. The leitmotif of the session does not change with Bper (+ 8.7%) in the dust after the accounts, followed by Pirelli (+ 3.5%).
On the other hand, Mps is down (-7.6%) in the wake of the quarterly report, to the new indications on the increase but also to new claims for damages.
The spread between BTP and Bund drops to 210 points with the Italian ten-year yield fairly stable and at 2.93%.
As for exchange rates, the euro is trading at 1.023 against the dollar. (HANDLE).